Friday, March 22, 2019 12:22:45 PM
Yesterdays pop was definitely great to see. Unless you are short, which many here clearly are. Shorts don't care about what's real, or the future, they only know that they can hammer down and bully the narrative and BS their way to profits at a lower pps on the OTC.
Yesterday some shorts had to cover end of day to protect capital in case today was a real big run. They took a short term loss on the day and when it opened today they hit it hard out the gate knowing they could induce a "sell the news" drop shorting in unison with profit takers. Looking at the chart today it's clear, it worked like a champ. Although the PPS is still at a higher low, shorts still took a loss, and probably a 6 figure one. Yesterdays total action was under $1mil and we're plateauing well above yesterdays price.
Just as a long can jump out and then back in at a lower price, shorts can too at a higher PPS which is what they did this AM using all the capital they took off the table yesterday. Remember that. Someone, or many here are short. They need the PPS to go down, and when they get spooked, they have to buy in which raises the PPS.
The report released, as positive as it was, was only a very preliminary study and not enough to garner huge attention. I'm sure everyone in the industry is looking at it. Given the price didn't tank out below yesterdays lows, it's a win for longs. More people will pick up on this over the weekend, and some strong PR next week could really bolster things. The fact that shorts lost the battle on this PR cycle doesn't mean they will walk away. They are going to do the same going forward with more BS bully narratives, however in the near term they are going to be more cautious due to the recent runs on the positives.
Watch the volume, watch the PR, watch the charts.
GL!
Nothing I say, post, or do should ever be considered financial
advice. I may be holding a long, short or no position. Anything I
write may be truth or fiction and should not be considered facts. I
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